The Role of Artificial Intellect in Today’s Banking System
https://doi.org/10.21686/2413-2829-2024-3-164-172
Abstract
The article shows the use of artificial intellect (AI) in different spheres of banking, including client servicing, risk analysis, fraud combating, process automation and decision-making. AI use in banking fosters higher efficiency and accuracy of information processing. It makes automation of standard tasks easier and gives employees wider opportunities to work at complicated and analytical goals. AI helps banks assess quickly and correctly credit risks thereby decreasing possibility of default and enhancing general security of the banking system. The author pointed out that AI improves the quality of client servicing. Chat-bots based on AI can give fast and precise answers to client’s requests and assist in problem solving. Accurate treatment of requests gives banks an opportunity to develop personalized offers and services taking into account preferences and needs of clients. However, besides numerous benefits of using AI the author puts forward problems connected with challenges and difficulties of its introduction in the banking sector. Such issues of transparency, ethics of AI use, possible risks and threats need further study as well as the development of necessary control mechanisms.
About the Author
Demba Cisse
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Demba Cisse, Post-Graduate Student
Department for World Financial Markets
and Fintech
109992; 36 Stremyanny Lane; Moscow
References
1. Abyshko A. O., Sabirov G. S. Iskusstvennyy intellekt i proizvedeniya mashinnogo tvorchestva: primenimost opyta stran obshchego prava k rossiyskomu regulirovaniyu [Artificial Intelligence and Works of Machine Creativity: Applicability of the Experience of Common Law Countries to Russian Regulation]. Patenty i litsenzii. Intellektualnye prava [Patents and Licenses. Intellectual Property Rights], 2021, No. 12, pp. 60–72. (In Russ.).
2. Averinskaya S. A., Sevostyanova A. A. Sozdanie iskusstvennogo intellekta s tselyu zlonamerennogo ispolzovaniya v ugolovnom prave Rossiyskoy Federatsii [Creation of Artificial Intelligence for the Purpose of Malicious Use in Criminal Law of the Russian Federation]. Zakon i pravo [Law and Law], 2019, No. 2, pp. 94–96. (In Russ.).
3. Alekseeva E. A. Protivostoyanie simvolizma i konnektsionizma v istorii razvitiya iskusstvennogo intellekta [The Confrontation of Symbolism and Connectionism in the History of Artificial Intelligence Development]. Elektronnyy nauchno-obrazovatelnyy zhurnal «Istoriya» [Electronic Scientific and Educational Journal "History"], 2020, Vol. 11, No. 11 (97), p. 30. (In Russ.).
4. Alekseenko A. P. Regulirovanie ispolzovaniya poiskovykh algoritmov v sootvetstvii s Zakonom KNR «Ob elektronnoy kommertsii» [Regulation of the Use of Search Algorithms in Accordance with the Law of the People's Republic of China "On Electronic Commerce"]. Territoriya novykh vozmozhnostey. Vestnik Vladivostokskogo gosudarstvennogo universiteta ekonomiki i servisa [Territory of New Opportunities. Bulletin of the Vladivostok State University of Economics and Service], 2020, Vol. 12, No. 2, pp. 118–126. (In Russ.).
5. Andreev V. K. Priobretenie i osushchestvlenie prav yuridicheskogo litsa s ispolzovaniem iskusstvennogo intellekta [Acquisition and Exercise of the Rights of a Legal Entity Using Artificial Intelligence]. Predprinimatelskoe pravo [Entrepreneurial Law], 2021, No. 4, pp. 11–17. (In Russ.).
6. Aranovskiy K. V., Knyazev S. D. Konstitutsiya i bezopasnost [Constitution and Security]. Gosudarstvo i pravo [State and Law], 2018, No. 1, pp. 17–28. (In Russ.).
7. Arzamastsev M. V. Konstitutsionnye osnovy ugolovno-pravovykh zapretov v sfere obshchestvennoy bezopasnosti [Constitutional Foundations of Criminal Law Prohibitions in the Field of Public Safety]. Kriminalist [Criminalist], 2020, No. 2 (31), pp. 10–14. (In Russ.).
8. Arkhipov V. V., Naumov V. B. Iskusstvennyy intellekt i avtonomnye ustroystva v kontekste prava: o razrabotke pervogo v Rossii zakona o robototekhnike [Artificial Intelligence and Autonomous Devices in the Context of Law: on the Development of the First Law on Robotics in Russia]. Trudy SPIIRAN [Proceedings of SPIIRAN], 2017, No. 6 (55), pp. 46–62. (In Russ.).
9. Arkhipov V. V., Naumov V. B. O nekotorykh voprosakh teoreticheskikh osnovaniy razvitiya zakonodatelstva o robototekhnike: aspekty voli i pravosubektnosti [On Some Issues of the Theoretical Foundations of the Development of Legislation on Robotics: Aspects of Will and Legal Personality]. Zakon [Law], 2017, No. 5, pp. 157–170. (In Russ.).
10. Afanasev A. Yu. Iskusstvennyy intellekt v ugolovnom protsesse [Artificial Intelligence in Criminal Proceedings]. Yuridicheskaya tekhnika [Legal Technique], 2021, No. 15, pp. 571–574. (In Russ.).
11. Regulirovanie robototekhniki: vvedenie v «robopravo». Pravovye aspekty razvitiya robototekhniki i tekhnologiy iskusstvennogo intellekta [Regulation of Robotics: an Introduction to "Robopravo". Legal Aspects of the Development of Robotics and Artificial Intelligence Technologies], edited by A. V. Neznamov. Moscow, Infotropic Media, 2018. (In Russ.).
12. Sberbank rasskazal o perspektivakh ispolzovaniya iskusstvennogo intellekta v bankakh [Sberbank Spoke about the Prospects of Using Artificial Intelligence in Banks]. (In Russ.). Available at: https://www.vedomosti.ru/finance/articles/2023/07/06/984101-sberbank-rasskazal-o-perspektivah-ispolzovaniya-iskusstvennogo-intellekta-v-bankah (accessed 26. 01. 2024).
13. Etika i «tsifra»: ot problem k resheniyam: kollektivnaya monografiya [Ethics and "Digit": from Problems to Solutions : a collective monograph], edited by E. G. Potapova, M. S. Shklyaruk. Moscow, Izd-vo RANKHiGS, 2021. (In Russ.).
Review
For citations:
Cisse D. The Role of Artificial Intellect in Today’s Banking System. Vestnik of the Plekhanov Russian University of Economics. 2024;(3):164-172. (In Russ.) https://doi.org/10.21686/2413-2829-2024-3-164-172
Views:
553
Email this article 